YICHANG, May 7 (Xinhua) -- The Three Gorges Dam Project will help minimize damage caused by the biggest floods that might occur once every 1,000 years on the middle reaches of the Yangtze River this year, said officials with the China Three Gorges Project Corporation (CTGPC).

"We are confident in helping the Yangtze River valley withstand deluges that might be seen every 1,000 years. The completion of ship-lock construction on May 1 has made it possible to raise the water level of the Three Gorges reservoir to 175 meters if required," said Cao Guangjing, deputy general manager of CTGPC.

In the event of a major flood the water level at the dam could be allowed to rise to 175 meters and store 22.15 billion cubic meters of water, according to the corporation. Currently the water level is at 150 meters.

"The reservoir has begun discharging water and the water level will be allowed to drop six meters before June 10 to 144 meters. This will allows for increased storage capacity during the flood season on the Yangtze River, which usually lasts from June to August," said Feng Zhengpeng, an official with the CTGPC.

Deadly floods are a frequent occurrence along the Yangtze River. The last flood in 1998 claimed about 1,000 lives and caused approximately 100 billion yuan (about 13 billion U.S. dollars) in economic loss.

The Three Gorges Project is designed to generate clean energy, benefit shipping and control flooding.

Officials with the CTGPC say the dam was engineered to prevent one-in-ten-year floods, control one-in-100-year floods and minimize damage and injuries from one-in-1,000-year floods.